View or download a PDF version here. The carried interest tax loophole is an income tax avoidance scheme that allows private equity and hedge fund executives — some of the richest people in the world — to substantially lower the amount they pay in taxes. The carried interest loophole allows private equity barons to claim
The carried interest tax loophole is an income tax avoidance scheme that allows private equity and hedge fund executives — some of the richest people in the world — to substantially lower the amount they pay in taxes, exacerbating income and wealth inequalities.
This study estimates that at least $5.3 billion in CARES Act money went to 611 portfolio companies owned or backed by private equity firms that held $908 billion in cash reserves.
Voters across all political parties are broadly and intensely supportive of strong consumer financial protections and of tough regulation of the financial services industry. This sentiment extends not only to keeping existing measures in place but expanding on what Congress did a decade ago, and has proved durable throughout the period since the 2008 financial crisis, through the weak recovery that followed and into the searing recession caused by the COVID-19 pandemic.
In its proposed rule, CFPB Director Kathy Kraninger is sanctioning consumer harassment by allowing debt collectors to: call consumers seven times per debt, per week; send unlimited emails, texts, and social media messages without consumer consent; allow debt collectors to collect very old “zombie debts” where the time to sue has expired; and file baseless lawsuits by making it easier to sue the wrong consumer, for the wrong amount.